MUSCAT: OQ Exploration & Production (OQEP) held an IPO roadshow in Ibri, Al Dhahirah Governorate, in collaboration with the Oman Chamber of Commerce and Industry (OCCI). The event, attended by local businessmen and citizens, aimed to inform participants about the benefits of subscribing to OQEP shares, as part of a broader outreach across Oman’s governorates.
Eng Ahmed bin Said al Azkawi, CEO of OQEP, emphasized that the IPO aligns with Oman Vision 2040’s economic diversification strategy. The offering allows both domestic and foreign investors to participate in one of Oman’s leading oil and gas exploration companies, broadening the ownership of government entities.
Saif bin Said al Badi, Chairman of OCCI Al Dhahirah, praised the government’s decision to allocate 25% of OQEP shares for public subscription, affirming it will empower the private sector and stimulate growth in the Muscat Stock Exchange.
Highlighting OQEP's strategic role, Mahmoud bin Abdullah al Hashimi, Chief Operating Officer, explained that the company manages 13 partnerships with international firms operating in Oman’s oil concession areas, showcasing its capacity to optimize national resources.
Jaber bin Rashid al Naamani, Chief Financial Officer, outlined the structure of the IPO, noting that 40% of the shares are allocated to individual investors, a significant increase compared to previous offerings. He also mentioned a 10% discount for citizens, encouraging them to invest their savings in lucrative financial instruments.
The event concluded with a Q&A session, where attendees discussed the potential benefits of the IPO.
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